NYSE : PFS
Provident Financial Services, Inc. — Financial statements
Financials · Banks - Regional · United States
Last price 22.94 USD (Oct 30, 2026, 4:00 PM EST) · Market cap 2.99B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 1.15B | 1.13B | 944.30M | 556.24M | 417.65M | 365.07M |
| Interest Income on Investments | 151.54M | 139.35M | 101.84M | 59.59M | 48.53M | 37.27M |
| Total Interest Income | 1.30B | 1.27B | 1.05B | 615.82M | 466.18M | 402.34M |
| Interest Paid on Deposits | 389.83M | 400.00M | 349.52M | 159.46M | 38.70M | 26.51M |
| Interest Paid on Borrowings | 113.10M | 112.21M | 96.00M | 56.91M | 9.93M | 9.80M |
| Total Interest Expense | 502.93M | 512.21M | 445.52M | 216.37M | 48.63M | 36.32M |
| Net Interest Income | 801.84M | 760.57M | 600.61M | 399.45M | 417.55M | 366.02M |
| Trust Income | 30.37M | 29.25M | 30.53M | 27.67M | 27.87M | 30.76M |
| Gain (Loss) on Sale of Assets | 681.00K | 681.00K | -154.00K | 22.00K | 42.00K | |
| Gain (Loss) on Sale of Investments | 468.00K | 843.00K | -2.99M | 30.00K | 181.00K | 255.00K |
| Other Non-Interest Income | 90.43M | 79.06M | 66.57M | 52.28M | 59.72M | 52.36M |
| Total Non-Interest Income | 122.27M | 109.84M | 94.11M | 79.83M | 87.79M | 83.41M |
| Revenues Before Loan Losses | 924.11M | 870.40M | 694.73M | 479.28M | 505.34M | 449.43M |
| Provision for Loan Losses | 11.24M | 3.58M | 87.56M | 28.17M | 5.00M | -24.34M |
| Revenue | 912.86M | 866.82M | 607.16M | 451.12M | 500.34M | 473.77M |
| Salaries and Employee Benefits | 255.31M | 242.68M | 206.15M | 137.70M | 133.46M | 133.40M |
| Occupancy Expenses | 35.40M | 34.50M | 28.87M | 32.27M | 34.57M | 32.93M |
| Federal Deposit Insurance | 11.91M | 12.90M | 12.96M | 8.58M | 5.20M | 6.26M |
| Amortization of Goodwill & Intangibles | 34.26M | 37.07M | 28.93M | 2.95M | 3.29M | 3.66M |
| Selling, General & Administrative | 73.00M | 71.69M | 69.06M | 38.61M | 40.66M | 33.67M |
| Other Non-Interest Expense | 81.90M | 59.82M | 54.71M | 47.40M | 38.93M | 40.12M |
| Total Non-Interest Expense | 491.77M | 458.66M | 400.68M | 267.51M | 256.10M | 250.05M |
| EBT Excluding Unusual Items | 421.09M | 408.16M | 206.48M | 183.60M | 244.23M | 223.72M |
| Other Unusual Items | 3.40M | |||||
| Pretax Income | 421.09M | 408.16M | 149.62M | 175.78M | 240.11M | 227.12M |
| Income Tax Expense | 110.94M | 117.00M | 34.09M | 47.38M | 64.46M | 59.20M |
| Net Income | 310.15M | 291.16M | 115.53M | 128.40M | 175.65M | 167.92M |
| Net Income to Common | 310.15M | 291.16M | 115.53M | 128.40M | 175.65M | 167.92M |
| Basic Shares Outstanding | 130.44M | 130.46M | 109.67M | 74.84M | 74.70M | 76.47M |
| Diluted Shares Outstanding | 130.50M | 130.51M | 109.71M | 74.87M | 74.78M | 76.56M |
| EPS (Basic) | 2.38 | 2.23 | 1.05 | 1.72 | 2.35 | 2.20 |
| EPS (Diluted) | 2.38 | 2.23 | 1.05 | 1.71 | 2.35 | 2.19 |
| Dividend Per Share | 0.24 | 0.96 | 0.96 | 0.96 | 0.96 | 0.93 |
| Effective Tax Rate | 26.35% | 28.67% | 22.79% | 26.96% | 26.85% | 26.06% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 266.00M | 209.08M | 205.87M | 180.19M | 186.44M | 685.16M |
| Investment Securities | 276.79M | 854.41M | 1.05B | 768.85M | 765.48M | 786.47M |
| Trading Asset Securities | 105.26M | 179.33M | 105.16M | 151.19M | 66.50M | |
| Mortgage-Backed Securities | 3.28B | 2.61B | 2.06B | 1.29B | 1.43B | 1.71B |
| Total Investments | 3.56B | 3.57B | 3.29B | 2.16B | 2.34B | 2.56B |
| Gross Loans | 20.19B | 19.52B | 18.67B | 10.88B | 10.26B | 9.60B |
| Allowance for Loan Losses | -189.47M | -184.77M | -193.43M | -107.20M | -88.02M | -80.74M |
| Other Adjustments to Gross Loans | -16.00M | -12.98M | -9.54M | -12.46M | -14.14M | -13.71M |
| Net Loans | 19.98B | 19.32B | 18.47B | 10.76B | 10.16B | 9.50B |
| Property, Plant & Equipment | 115.75M | 171.27M | 181.88M | 127.91M | 140.37M | 129.37M |
| Goodwill | 624.07M | 624.07M | 443.62M | 443.62M | 443.62M | |
| Other Intangible Assets | 756.45M | 157.04M | 194.06M | 13.77M | 16.65M | 19.86M |
| Loans Held for Sale | 5.63M | 14.71M | 162.45M | 1.78M | ||
| Accrued Interest Receivable | 102.09M | 95.80M | 91.16M | 58.97M | 51.90M | 41.99M |
| Restricted Cash | 2.40M | 70.00K | 70.00K | 70.00K | 27.30M | |
| Long-Term Deferred Tax Assets | 165.44M | 223.62M | 71.58M | 82.23M | 22.95M | |
| Other Real Estate Owned & Foreclosed | 963.00K | 2.02M | 9.47M | 11.65M | 2.12M | 8.73M |
| Other Long-Term Assets | 929.89M | 531.89M | 485.48M | 297.72M | 286.81M | 305.21M |
| Total Assets | 25.85B | 24.98B | 24.05B | 14.21B | 13.78B | 13.78B |
| Interest Bearing Deposits | 4.68B | 3.95B | 4.06B | 7.87B | 7.81B | 8.10B |
| Institutional Deposits | 929.99M | 789.34M | 218.55M | 108.18M | 368.28M | |
| Non-Interest Bearing Deposits | 15.13B | 14.40B | 13.78B | 2.20B | 2.64B | 2.77B |
| Total Deposits | 19.81B | 19.28B | 18.62B | 10.29B | 10.56B | 11.23B |
| Short-Term Borrowings | 383.12M | 559.55M | 688.83M | 608.39M | 62.47M | |
| Current Portion of Long-Term Debt | 1.28B | 113.22M | 72.16M | 98.00M | 116.76M | |
| Current Portion of Leases | 12.71M | |||||
| Long-Term Debt | 2.82B | 408.80M | 405.32M | 10.73M | 10.49M | 10.28M |
| Federal Home Loan Bank Debt, Long-Term | 550.00M | 1.52B | 1.30B | 753.37M | 510.01M | |
| Long-Term Leases | 48.41M | 65.23M | 60.04M | 63.37M | 50.24M | |
| Pension & Post-Retirement Benefits | 15.56M | 13.47M | 13.07M | 13.92M | 18.67M | |
| Other Long-Term Liabilities | 355.88M | 165.47M | 151.52M | 83.03M | 75.16M | 81.66M |
| Total Liabilities | 22.98B | 22.15B | 21.45B | 12.52B | 12.19B | 12.08B |
| Common Stock | 1.38M | 1.38M | 1.38M | 832.00K | 832.00K | 832.00K |
| Additional Paid-In Capital | 1.85B | 1.84B | 1.83B | 989.06M | 981.14M | 969.82M |
| Retained Earnings | 1.29B | 1.15B | 989.11M | 974.54M | 918.16M | 814.53M |
| Treasury Stock | -102.83M | -91.29M | -88.42M | -127.83M | -127.15M | -79.60M |
| Comprehensive Income & Other | -174.94M | -76.18M | -135.35M | -146.01M | -175.27M | -8.48M |
| Shareholders' Equity | 2.86B | 2.83B | 2.60B | 1.69B | 1.60B | 1.70B |
| Total Liabilities & Equity | 25.85B | 24.98B | 24.05B | 14.21B | 13.78B | 13.78B |
| Total Debt | 2.82B | 2.69B | 2.66B | 2.13B | 1.53B | 749.76M |
| Net Cash (Debt) | -2.55B | -2.37B | -2.28B | -1.85B | -1.20B | 1.90M |
| Net Cash Per Share | -19.57 | -18.19 | -20.75 | -24.66 | -15.99 | 0.02 |
| Filing Date Shares Outstanding | 130.42M | 130.70M | 130.49M | 75.31M | 74.73M | 76.21M |
| Total Common Shares Outstanding | 130.42M | 130.70M | 130.49M | 75.25M | 74.57M | 76.07M |
| Book Value Per Share | 21.96 | 21.68 | 19.93 | 22.47 | 21.43 | 22.31 |
| Tangible Book Value | 2.11B | 2.05B | 1.78B | 1.23B | 1.14B | 1.23B |
| Tangible Book Value Per Share | 16.16 | 15.70 | 13.66 | 16.39 | 15.25 | 16.22 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 291.16M | 115.53M | 128.40M | 175.65M | 167.92M | |
| Depreciation & Amortization | 65.51M | 54.59M | 22.19M | 23.69M | 22.73M | |
| Gain (Loss) on Sale of Assets | -670.00K | -214.00K | -2.70M | -8.56M | -503.00K | |
| Gain (Loss) on Sale of Investments | 15.85M | 10.12M | 8.30M | 12.49M | 15.59M | |
| Provision for Credit Losses | 3.58M | 87.56M | 28.17M | 5.00M | -24.34M | |
| Net Decrease (Increase) in Loans Originated / Sold - Operating | 122.92M | 143.65M | 3.52M | -1.77M | 49.53M | |
| Accrued Interest Receivable | -4.64M | -4.95M | -7.06M | -9.91M | 4.46M | |
| Change in Other Net Operating Assets | -65.57M | 40.53M | -3.92M | 4.25M | -85.52M | |
| Other Operating Activities | 7.53M | -30.87M | -12.28M | -12.76M | -1.16M | |
| Operating Cash Flow | 442.26M | 426.38M | 173.40M | 200.31M | 156.81M | |
| Capital Expenditures | -11.54M | -1.31M | -7.49M | -9.41M | -13.80M | |
| Sale of Property, Plant and Equipment | 2.35M | 105.00K | 22.00K | 42.00K | ||
| Cash Acquisitions | 194.55M | |||||
| Investment in Securities | -228.91M | 531.62M | 173.17M | 35.15M | -985.33M | |
| Net Decrease (Increase) in Loans Originated / Sold - Investing | -817.99M | -193.99M | -632.94M | -656.19M | 247.99M | |
| Other Investing Activities | 3.77M | -23.20M | -2.45M | -17.14M | 34.53M | |
| Investing Cash Flow | -1.05B | 507.67M | -469.60M | -647.56M | -716.57M | |
| Short-Term Debt Issued | 293.88M | 18.60M | 156.30M | |||
| Long-Term Debt Issued | 150.00M | 857.08M | 534.81M | 3.98B | 913.68M | |
| Total Debt Issued | 443.88M | 875.68M | 691.11M | 3.98B | 913.68M | |
| Short-Term Debt Repaid | -18.95M | -8.44M | ||||
| Long-Term Debt Repaid | -352.36M | -1.39B | -58.44M | -3.25B | -1.47B | |
| Total Debt Repaid | -352.36M | -1.39B | -58.44M | -3.27B | -1.48B | |
| Net Debt Issued (Repaid) | 91.52M | -514.35M | 632.66M | 710.60M | -564.20M | |
| Issuance of Common Stock | 790.00K | 887.00K | ||||
| Repurchase of Common Stock | -2.87M | -1.32M | -1.68M | -47.55M | -21.67M | |
| Common Dividends Paid | -125.91M | -100.96M | -72.45M | -72.02M | -71.48M | |
| Net Increase (Decrease) in Deposit Accounts | 652.88M | -291.75M | -269.38M | -669.72M | 1.40B | |
| Financing Cash Flow | 615.62M | -908.37M | 289.95M | -78.70M | 739.86M | |
| Net Cash Flow | 5.54M | 25.68M | -6.25M | -525.96M | 180.11M | |
| Free Cash Flow | 430.73M | 425.07M | 165.91M | 190.90M | 143.01M | |
| Free Cash Flow Margin | 49.69% | 70.01% | 36.78% | 38.15% | 30.19% | |
| Free Cash Flow Per Share | 3.30 | 3.87 | 2.22 | 2.55 | 1.87 | |
| Cash Interest Paid | 494.10M | 397.28M | 210.34M | 46.90M | 35.91M | |
| Cash Income Tax Paid | 102.65M | 36.18M | 46.46M | 51.05M | 57.47M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.99B | 2.58B | 2.46B | 1.35B | 1.59B | 1.87B |
| Last Close Price | 22.94 | 19.15 | 17.37 | 15.69 | 17.59 | 19.12 |
| PE Ratio | 9.65 | 8.86 | 21.31 | 10.53 | 9.04 | 11.14 |
| PS Ratio | 3.28 | 2.98 | 4.05 | 3.00 | 3.17 | 3.95 |
| PB Ratio | 1.04 | 0.91 | 0.95 | 0.80 | 0.99 | 1.10 |
| P/FCF Ratio | 8.54 | 5.99 | 5.79 | 8.15 | 8.32 | 13.08 |
| P/OCF Ratio | 8.08 | 5.83 | 5.78 | 7.80 | 7.93 | 11.93 |
| Debt / Equity Ratio | 0.98 | 0.95 | 1.02 | 1.26 | 0.96 | 0.44 |
| Debt / FCF Ratio | 6.24 | 6.26 | 12.85 | 8.03 | 5.24 | |
| Net Debt / Equity Ratio | 0.89 | 0.84 | 0.88 | 1.09 | 0.75 | -0.00 |
| Net Debt / FCF Ratio | 5.51 | 5.36 | 11.13 | 6.26 | -0.01 | |
| Return on Equity (ROE) | 11.02% | 10.71% | 5.38% | 7.81% | 10.66% | 10.12% |
| Return on Assets (ROA) | 1.22% | 1.19% | 0.60% | 0.92% | 1.27% | 1.26% |
| Earnings Yield | 10.37% | 11.29% | 4.69% | 9.49% | 11.06% | 8.98% |
| FCF Yield | 11.71% | 16.70% | 17.26% | 12.27% | 12.02% | 7.65% |
| Dividend Yield | 4.18% | 4.86% | 5.09% | 5.34% | 4.51% | 3.78% |
| Payout Ratio | 40.37% | 43.24% | 87.39% | 56.42% | 41.00% | 42.57% |
| Buyback Yield / Dilution | -0.04% | -18.95% | -46.53% | -0.12% | 2.32% | -9.96% |
| Total Shareholder Return | 4.14% | -14.09% | -41.44% | 5.22% | 6.83% | -6.18% |